Jan 18, 2013 3:00am PST
the american economy. >> steve: here is somebody who dealt with enormous deficits firsthand, the former governor of the golden state of california, arnold schwarzenegger. good morning to you. >> good morning. nice to be here again. >> brian: he sends a warning to the republicans should they back off or take on the president? >> first of all, i think i find it interesting that when you want to have more money, if you go to any financial institution, they say look, i can't pay my bills, i need more money. they want to see their payment plan. how are you going to live responsible from here on? then you can get more money. so i don't understand that why this should not be a part of the discussion because it ought to be. i think america should not just blindly go in there and keep spending money that we don't have. every single day we're spending more and more money. every year it's like $1.3 trillion more than we have and then it gets added to the debt and that's why this short period of time we have seen the debt go up. >> steve: we have a live picture of the debt now. all right, governor.